TikTok TikTok – Are You Ahead of the Game?
Time is Tik-ing… are you on the Tok? If you haven’t heard of TikTok, the newest social media platform to disrupt the social world, it’s here, and it’s awesome. For those unfamiliar with the trend, TikTok, formerly known as Musical.y, is a rapidly growing video-sharing app that allows users to shoot, edit, and share 15 or 60 second vertical videos. With over 1.5 billions downloads, it’s the most-downloaded app in the world, outperforming both Instagram and Facebook! And, even more people are flocking to the app during this time of COVID-19, with data showing new U.S. visitors increased by 48.3% from January to March 2020. This may be attributed to the fact that unlike other social platforms, users can dive into watching videos without ever creating an account, or simply that it’s wildly entertaining (and addicting) if you don’t mind some PG-13 and R-rated content.
1. Who is using TikTok?
In the U.S., 43% of TikTok users are ages 20 to 39 and about 20% are ages 40+, although this will likely change as older generations slowly adopt the new platform, similar to the progression of Instagram. Importantly, with billions of downloads, even if only a small % are the ideal demographic, there are millions, if not hundreds of millions, of people who fit your target market paying attention and using the app. We recall our clients being concerned about marketing on Instagram because “our customer demographic isn’t using it” only to find out a year later several hundred million users with buying intentions were being ignored, so don’t dilly dally. Have you downloaded the app yet yourself? No matter your age, it will surely capture your attention. Just be warned that you may not be able to stop once you start. There’s truly something for everyone on this app.
2. Should My Business Join TikTok?
TikTok is one of the most effective ways to reach the Gen Z and Millennial crowd and if you have any consumers in this demographic, the answer is an overwhelming YES. If your demographic (like ours) is older, we still recommend immediately starting the marketing process on the app, just as we are doing, so you can get in front of the right people early. TikTok gives you the opportunity to connect authentically with your audience in a way that most of your competitors are likely not doing yet. Even if your target demographic is older, joining TikTok now to grow your content library and fanbase will give you a leg up once people of all ages join the fun, which is inevitably on the horizon. Your kids will be annoyed that you know what they are up to, but apps are for all, so join the fun.
It’s also worth noting that there is some controversy over the app, as it was started in China, and while the app’s ownership claims all workers and work are performed outside of China in the non-Chinese version, some argue that the government is using the app to gather information about Americans, among others. Our view is that all apps collect more data than most are comfortable with, have options to minimize exposure, and if done properly, we feel the benefit outweighs the risks for a small business.
3. How Are Others in My Industry Already Using the TikTok App to Monetize and Earn Profit?
For a quick view of what others like you may be doing, head to the app and search for industry terms in the “Discover” tab. Whether your business is real estate, fashion, plastic surgery, craft beverages, interior design, or others, you’ll likely find examples from your competitors around the country. As an example, while many young and good looking people making silly videos dominates the platform, there is amazing content for businesses and people of all ages and genres. We love following Gary Vaynerchuck as he also owns a digital marketing company who has a demographic largely in their 30s-60s, but properly captures hundreds of millions of followers of all ages by spreading his word everywhere (and we mean everywhere). As you review the app, you’ll realize you can likely compete or even do better work than your peers on the platform and we are here to help. The key is to develop a strategy, then develop superb video content that dovetails with that goal, and start promoting early and often – this email blast alone, if not acted upon, may put you far behind the proverbial eight ball if you don’t act quickly. Again, time is TikToking.
4. Will TikTok Make Me Money?
Let’s get down to the nitty gritty of what you can expect in terms of revenue and leads. As with any social platform, nothing is guaranteed when it comes to generating business, but if you get in early, keep up with the trends, and follow best practices, you have a good chance at reaping the benefits. For instance, one way to capture more leads on TikTok is to alternate promotional frames featuring your contact info and details on how to buy your product/service with other video content such as behind-the-scenes footage, tutorials, and customer testimonials. In short, in a year’s time, there will be people who are reading this email newsletter who will earn 6 or 7 figures from leads or sales garnered from TikTok.
5. How Do You Recommend I Get Started with Monetizing TikTok?
If you do nothing else with TikTok in the next week, at least download the app and claim your business name. Once you’ve done that, spend some time perusing the app to understand the hype and learn how other companies in your industry use it. We will be using it to share best practices for social media marketing, managing people, selling and sales management, and just having fun. TikTok is the wild west of the social media world and possibilities are endless.